Here are the top stories from global financial media overnight.
1. US-Iran Nuclear Talks Stall Before Starting Over Lebanon Issue
Iran has postponed the start of talks with the United States on a lasting peace agreement, following an escalation of hostilities in southern Lebanon. This could hinder efforts by the Trump administration to end the conflict and curb Tehran's nuclear program.
Two informed sources revealed that talks scheduled for Friday in Switzerland were delayed due to clashes between Israel and the Iran-backed Hezbollah militia.
A US official stated that Israel and Hezbollah agreed to a ceasefire later on Friday. Both sides indicated they would commit to the ceasefire if the other side adhered to it, or else respond accordingly.
Iran insisted on including a Lebanon ceasefire in the interim peace agreement being finalized with the US this week and did not send a delegation to the talks due to the renewed hostilities. US Vice President JD Vance, who was scheduled to represent Washington, also did not attend.
No new date for consultations has been set.
2. Iran Proposes 'Insurance Fee' to Assert Control Over Strait of Hormuz
Iran has stated that vessels passing through the Strait of Hormuz require its permission and must purchase mandatory insurance, in an attempt to assert control over the strategic waterway. Meanwhile, the US reported that 20 ships have quietly transited the strait via a route off the coast of Oman at night.
These conflicting signals emerge as the shipping industry tries to assess the safety of navigating this crucial global energy chokepoint and what transit mechanisms will be established following a provisional US-Iran peace deal to reopen the strait. After an initial surge of traffic, the number of vessels broadcasting signals to transit the strait declined on Friday, following reports of a naval mine discovered near the Omani coast.
For many shipping firms and oil producers, however, Iran's warning that it reserves the right to charge an 'insurance fee' may confirm their worst fears: the imposition of a toll on vessels passing through the Strait of Hormuz.
3. SpaceX IPO Creates Thousands of Millionaires, Some Executives' Holdings Top $10 Billion
The record-breaking initial public offering of SpaceX pushed the paper value of the personal stake held by founder and CEO Elon Musk past $1 trillion. However, he is not the only one reaping massive gains from the company's blockbuster market debut.
The IPO also created thousands of new millionaires, with holdings for some shareholders surpassing $10 billion in value.
In its first week of trading, investors rushed to buy shares, betting on Musk's grand vision for the company. However, market sentiment has cooled over the past few sessions, leading to a partial retracement of the stock's gains.
Earlier this week, the company's total market capitalization briefly surpassed that of Amazon.com Inc and even overtook Microsoft Corp for a moment. Following a share price decline on Thursday, however, SpaceX's closing market cap stood at $2.43 trillion, once again trailing the e-commerce giant.
4. Trump: Anthropic Once Posed a National Security Threat
In an exclusive interview with "Axios Show," former US President Donald Trump stated that he once viewed Anthropic as a national security threat, though he suggested the relationship has since improved.
Axios' Mark Caputo asked Trump in the interview whether he considered Anthropic or its CEO, Dario Amodei, a national security threat.
"Well, not now, but maybe a week ago," Trump said, adding that his impression after the G7 summit was that Amodei was "nice" and "smart."
"He responded to us very quickly, because you know this is a huge responsibility," Trump said. "People go to jail for this immediately. You can't play games with it."
5. Traders Ramp Up Fed Rate Hike Bets Amid Iran Concerns and Warsh's Hawkish Stance
As surging oil prices reignite inflation concerns, traders have increased their bets on Federal Reserve interest rate hikes, now fully pricing in a 25-basis-point increase for September.
Swap contracts tied to policy meeting dates indicate expectations for a 25-basis-point hike, up from 23 basis points on Thursday and significantly higher than the 8 basis points seen earlier in the week. This move occurred during thin trading, with US markets closed for a public holiday.
Investors are pricing in further monetary policy tightening from the Fed. New Chair Kevin Warsh stated at his inaugural meeting this week that the central bank would not tolerate high inflation, a comment that pushed yields higher on Wednesday. Oil prices have rebounded roughly 4% from a three-month low hit on Thursday, amid lingering market skepticism about the latest US-Iran peace deal.
6. Firm: At Least 20 Tankers Have Transited Strait of Hormuz Since Commercial Shipping Resumed
Data from trade intelligence firm Kpler shows that at least 20 tankers have sailed through the Strait of Hormuz since the US and Iran restarted commercial shipping in the waterway.
The firm noted that Thursday saw the highest single-day tanker traffic since June 2nd, although shipping volumes have not yet recovered to pre-conflict levels. Before the conflict, over 100 vessels, including dozens of tankers, transited the strait daily.
Kpler's data indicates that a total of 25 vessels, including tankers, bulk carriers, and container ships, passed through the Strait of Hormuz on Thursday. Shipping volumes in the channel have continued to recover since the US Navy lifted its maritime blockade on Iran and Tehran allowed vessels to transit the strait free of charge for the next 60 days.
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